Acams cams practice test

Certified Anti-Money Laundering Specialist (the 6th edition)

Last exam update: Nov 29 ,2025
Page 1 out of 28. Viewing questions 1-15 out of 406

Question 1

A bank account is established for a new business customer. The business was established five years
ago with an address in another state. The business website contains few details other than stating it
is a real estate business.
One principal has an international telephone number and appears to be living in another country.
The other principal works out of a recreational vehicle.
What warrants enhanced due diligence in this scenario?

  • A. Shell company
  • B. Human trafficker
  • C. Politically exposed person
  • D. Money laundering through real estate
Mark Question:
Answer:

A


User Votes:
A 4 votes
50%
B
50%
C
50%
D
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 2

A branch manager for a small community bank has a new customer who deposits for EUR 50,000
checks into one account. Shortly thereafter, the customer goes to another branch and asks to transfer
all but EUR 1,500 to three accounts in different foreign jurisdictions.
Which suspicious activity should be the focus of the suspicious transaction report?

  • A. The customer opened the account with four large checks
  • B. The customer goes to a different branch to make this transaction
  • C. The customer transfers almost all of the funds out of the account
  • D. The customer asks to transfer funds to accounts in three different foreign jurisdictions
Mark Question:
Answer:

D


User Votes:
A
50%
B
50%
C 1 votes
50%
D 6 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 3

A government has instituted a new anti-money laundering laws which require all financial
institutions to obtain certain information from its customers.
Which step should an institution located in this jurisdiction take to ensure compliance?

  • A. Change procedures to require that the necessary information is obtained
  • B. Change procedures and systems as necessary and provide employee training
  • C. Send a notice to customers asking them to provide the necessary information
  • D. Change systems to ensure the required information is automatically obtained from all customers
Mark Question:
Answer:

B


User Votes:
A
50%
B 4 votes
50%
C 1 votes
50%
D
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 4

An anti-money laundering audit identifies a significant weakness in how transaction monitoring
alerts are
cleared. Audit sampling identified potentially suspicious activity that was cleared as not suspicious.
Management accepts the audit finding and develops a remediation plan.
What is the role of the auditor during the correction phase?

  • A. Directing the remediation of the deficiency in a timely manner
  • B. Developing procedures to provide sufficient risk-based documentation for clearing alerts
  • C. Providing training to the alert clearing department on the importance of effective alert clearing
  • D. Validating the successful remediation of the issue once management indicates the issue is resolved
Mark Question:
Answer:

D


Explanation:
The audit function should report to the audit committee of the board of directors (or similar
oversight body) and independently evaluate the risk management and controls of the bank through
periodic assessments, including the adequacy of the banks controls to mitigate the identified risks,
the effectiveness of the banks staffs execution of the controls, the effectiveness of the compliance
oversight and quality controls and the effectiveness of the training.

User Votes:
A
50%
B
50%
C
50%
D 2 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 5

Which method to launder money through deposit-taking institutions is closely associated with
international
trade?

  • A. Forming a shell company
  • B. Using Black Market Peso Exchange
  • C. Structuring cash deposits withdrawals
  • D. Investing in legitimate business with illicit funds
Mark Question:
Answer:

B


Explanation:
Reference:
http://fraudaid.com/Dictionary-of-Financial-Scam-
Terms/black_market_peso_exchange.htm

User Votes:
A
50%
B 4 votes
50%
C
50%
D 1 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 6

A customer opens a corporate account with a broker-dealer on behalf of several beneficial owners,
with a
stated long-term investment goal. The customer deposits $25.5 million into the account and three
days later transfers $5 million to an overseas bank. Shortly thereafter, the customer begins making
numerous purchases of pesos. The compliance officer receives a query regarding the movement of
funds. Within a month of account opening, the customer depletes the account.
Which two red flags should prompt the firms compliance officer to take action? (Choose two.)

  • A. The new account deposit is $25.5 million
  • B. A corporate account is opened on behalf of several beneficial owners
  • C. The compliance officer receives the query regarding the movement of funds
  • D. The customer’s stated investment goal is not reflective of account activity
Mark Question:
Answer:

CD


User Votes:
A
50%
B 3 votes
50%
C 3 votes
50%
D 5 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 7

What should countries do to help prevent non-profit organizations from being abused for the
financing of terrorism according to the Financial Action Task Force 40 Recommendations?

  • A. Allow for freezing assets of non-profit organizations
  • B. Require all non-profit organizations to register with the country’s financial intelligence unit
  • C. Ensure non-profit organizations cannot be used to conceal or obscure the diversion of funds intended for legitimate purposes to terrorists organizations
  • D. Create laws that forbid non-profit organizations from completing cross-border transactions without first running them through known terrorist data bases
Mark Question:
Answer:

C


Explanation:
Reference:
http://www.fatf-gafi.org/media/fatf/documents/reports/BPP-combating-abuse-non-
profitorganisations.pdf
(p.9)

User Votes:
A
50%
B
50%
C 3 votes
50%
D 1 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 8

An employee hears a colleague on the telephone with a customer giving advice on how to ensure
that a
suspicious transaction report will not be filed as a result of a future transaction.
What action should the employee take?

  • A. Report the conversation to the local police
  • B. Report the conversation to the compliance officer
  • C. Tell the colleague that it is against policy to give such advice
  • D. Ignore the situation because the colleague is the relationship manager for that customer
Mark Question:
Answer:

C


User Votes:
A 1 votes
50%
B 7 votes
50%
C 1 votes
50%
D
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000
Vadacohen
1 week, 3 days ago

Report to the compliance officer.

0

Question 9

The USA PATRIOT Act requires United States (U.S.) financial institutions to collect certain information
from non-U.S. banks that hold a correspondent account.
Which two pieces of information must a non-U.S. bank provide to its U.S. correspondent to enable
them to comply with this requirement? (Choose two.)

  • A. The name and address of all shell banks the bank maintains accounts for
  • B. The name and address of all beneficial owners who own 25% or more of the bank
  • C. Prompt notice of any suspicious activity it detects on any customer who uses the correspondent account
  • D. The name and address of a U.S. person who is authorized to receive service of legal process for the bank
Mark Question:
Answer:

BC


Explanation:
Reference:
https://www.sec.gov/about/offices/ocie/amlsourcetool.htm

User Votes:
A 1 votes
50%
B 4 votes
50%
C
50%
D 3 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 10

What are two legal risks of having inadequate privacy policies and procedures? (Choose two.)

  • A. Diminished reputation
  • B. Industry of regulatory sanctions
  • C. Charges of deceptive business practices
  • D. Higher marketing and public relations costs
Mark Question:
Answer:

BC


User Votes:
A 1 votes
50%
B 3 votes
50%
C 3 votes
50%
D
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 11

The vice president of the foreign correspondent banking department at a large United States bank
has been notified that a foreign bank with an offshore license wants to open a correspondent
account.
Which two things must the vice president acquire under the USA PATRIOT Act? (Choose two.)

  • A. A list of all the customers of the correspondent bank
  • B. A list of the types of businesses served by the correspondent bank
  • C. Information relating to the foreign bank’s anti-money laundering program
  • D. The identity of 10% owners of the correspondent bank, unless it is publicly traded
Mark Question:
Answer:

CD


User Votes:
A
50%
B
50%
C 4 votes
50%
D 4 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 12

What is an example of the integration stage of money laundering involving a bank or another
deposit-taking institution?

  • A. Depositing illicit funds into an account set up for a front company
  • B. Directing third parties to exchange illicit cash for negotiable instruments
  • C. Wiring illicit funds from an account at one bank to an account at another bank
  • D. Using illicit funds that had previously been deposited to purchase a luxury vehicle
Mark Question:
Answer:

D


Explanation:
Reference:
https://www.moneylaundering.ca/public/law/3_stages_ML.php

User Votes:
A
50%
B
50%
C
50%
D 6 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 13

Which aspect of the USA PATRIOT Act impacts foreign financial institutions?

  • A. Requiring enhanced due diligence for foreign shell banks
  • B. Expanding sanctions requirements to a U.S. financial institution’s foreign branches
  • C. Expanding the anti-money laundering program requirements to all foreign financial institutions
  • D. Providing authority to impose special measures on institutions that are of primary money- laundering concern
Mark Question:
Answer:

D


Explanation:
Reference:
https://www.imf.org/external/np/leg/sem/2002/cdmfl/eng/tompki.pdf
(8)

User Votes:
A 1 votes
50%
B
50%
C
50%
D 5 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 14

The compliance officer at a crowd funding website is in charge of monitoring new crowd funding
projects.
Recently, the number of crowd funding projects has significantly increased.
Which red flag indicates the highest anti-money laundering risk?

  • A. Those with the largest number of donors
  • B. Projects that get funding within days of their start
  • C. Projects with the highest monetary success threshold
  • D. Projects that start and close and are fully funded within a very short period
Mark Question:
Answer:

D


User Votes:
A
50%
B
50%
C
50%
D 5 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000

Question 15

Which two statements in the Wolfsberg Groups Suppression of the Financing of Terrorism define
the role financial institutions should play in the fight against terrorism? (Choose two.)

  • A. Financial institutions need to assist competent authorities in fighting terrorist financing through prevention, detection and information sharing.
  • B. Financial institutions need to continuously analyze the types of activity related to terrorist financing and develop models that in the long term will drive down terrorism.
  • C. Financial institutions should have financial intelligence units dedicated to the investigation of activity that would lead to the detection of terrorist financing as a means to decrease global terrorism.
  • D. Financial institutions should apply extra due diligence whenever they see suspicious or irregular activities, especially when customers are engaged in sectors or activities that have been identified by competent authorities as being used for the financing of terrorism.
Mark Question:
Answer:

AD


Explanation:
Reference:
https://www.wolfsberg-principles.com/sites/default/files/wb/pdfs/The-Wolfsberg-
Group.pdf

User Votes:
A 4 votes
50%
B
50%
C
50%
D 4 votes
50%
Discussions
vote your answer:
A
B
C
D
0 / 1000
To page 2